Government intervention in markets

a permit sold to firms by the government, allowing them to pollute up to a certain limit

2 of 5

Law of unintended consequences

when the actions of consumers, producers and governments have effects that are unanticipated

3 of 5

inflation

a persistent increase in the level of prices

4 of 5

Buffer stock scheme

Buffer stock schemes seek to stabilize the market price of agricultural products by buying up supplies of the product when harvests are plentiful and selling stocks of the product onto the market when supplies are low.

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Other cards in this set

Card 2

Front

a permit sold to firms by the government, allowing them to pollute up to a certain limit

Back

Pollution permits

Card 3

Front

when the actions of consumers, producers and governments have effects that are unanticipated

Back

Card 4

Front

a persistent increase in the level of prices

Back

Card 5

Front

Buffer stock schemes seek to stabilize the market price of agricultural products by buying up supplies of the product when harvests are plentiful and selling stocks of the product onto the market when supplies are low.